Morning Briefing
DOmestic demand, exports drive growth in Q4 of last year – CBM
The Central Bank of Malta said the Maltese economy continued to grow strongly during the final quarter of last year, with real GDP growth more than five times higher than the eurozone average. According to the Bank’s latest economic review, growth was driven equally by domestic demand and net exports, while business activity remained slightly above historical averages. The labour market also remained resilient, with higher employment levels and increased job vacancies, although labour shortages persisted. Despite a slight rise in unemployment, Malta’s rate remained well below the eurozone average. Inflation rose marginally to 2.5% in December from 2.4% in September, while underlying inflation excluding energy and food eased slightly to 2.3%. The report also highlighted improvements in public finances, with the government registering a smaller deficit and maintaining a debt ratio significantly below the eurozone average. (TVM NewS)
Manoel Island Returned to Public After Historic Agreement
Manoel Island and Fort Tigné were officially returned to the public on Wednesday following the signing of an agreement between the government and MIDI plc, bringing to an end a concession originally granted 26 years ago. The site had long been earmarked for major development, however growing public pressure and widespread calls for more open green spaces led to negotiations for the termination of the 99-year emphyteutical grant. While MIDI had reportedly requested €78 million in compensation, the government ultimately agreed to pay €43 million. Prime Minister Robert Abela described the agreement as a landmark moment and announced that local plans for Manoel Island will now be revised to ensure the area is protected for future generations. Initial works on the transformation of the site into a national park are expected to begin shortly, based on feedback received during a public consultation process which attracted thousands of submissions. (Times of Malta)
Government Announces €1,000 Therapy Support Scheme for Young Persons with Disabilities
Parents of young persons with disabilities aged between 18 and 23 will benefit from a new annual €1,000 allowance aimed at helping cover therapy expenses, Prime Minister Robert Abela announced during a political activity in San Ġwann. The measure extends support beyond childhood, building on the existing scheme through which government fully funds therapy for children with disabilities up to the age of 18. Abela said the initiative recognises the important role therapy continues to play during early adulthood in helping young people maximise their potential and independence. The Prime Minister also outlined a broader package of proposals linked to disability support, healthcare, IVF reform, and family wellbeing. These included plans to double the first-time buyer grant for persons with disabilities from €10,000 to €20,000, as well as the introduction of an “individual support account” intended to provide tailored assistance based on each person’s circumstances. Abela said the measures form part of a wider strategy focused on quality of life, inclusion, and long-term social investment. (Maltatoday)
PN Pledges Extended ‘Pay and Pension’ Scheme for Transport Malta and LESA Officers
Nationalist Party leader Alex Borg has announced that a future PN government would extend the ‘pay and pension’ scheme to officials within Transport Malta and LESA as part of a wider package of proposals targeting disciplined forces and public safety. Addressing a political activity in Ħaż-Żabbar, Borg said members of disciplined bodies who choose to remain in service beyond the current 25-year period would continue receiving both their full salary and pension. He described the proposal as a way of retaining experienced personnel and strengthening national security structures. Borg also pledged that a Nationalist government would gradually reopen police stations that had closed over the years, while introducing schemes aimed at encouraging former disciplined force members to return to service. He additionally proposed the creation of an independent board to hear cases involving officers who believe they suffered injustices during their careers. (TVM News)
